Eastern Bankshares (EBC)

Company Profile

Founded in 1818, Boston-based Eastern Bank is America’s oldest and largest mutual bank, with $11 billion in assets and over 115 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. Eastern provides exceptional access to fairly priced banking, investment and insurance products and services for consumers and businesses of all sizes. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is known for its outspoken advocacy and community support that has exceeded more than $125 million in charitable giving since 1999. An inclusive company, Eastern employs 1,900+ deeply committed professionals who value relationships with their customers, colleagues, and communities.

Company profile

Ticker

EBC

Exchange

Website

Incorporated

Location

Fiscal year end

Sector

Finance and Insurance > Direct Life Insurance Carriers

Industry (SIC)

Savings Institution, Federally Chartered

E Trade Financial • People's United Financial • BankUnited • Umpqua • TFS Financial • Capitol Federal Financial • Provident Financial Services • Columbia Financial • Brookline Bancorp • Flagstar Bancorp ...

SEC CIK

0001810546

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Eastern Insurance Group LLC • Broadway Securities Corporation • Market Street Securities Corporation • Real/Property Services, Inc. • Millennium Corporation • Shared Value Investments LLC ...

EBC stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$16.00

Low target

$15.00

High target

$17.00

Janney Montgomery Scott

Latest filings (excl ownership)

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24 Feb 23

Eastern Bankshares, Inc. Reports Fourth Quarter 2022 Financial Results

Departure of Directors or Certain Officers

4 Nov 22

Eastern Bankshares, Inc. Reports Third Quarter 2022 Financial Results

27 Oct 22

8-K

Eastern Bankshares, Inc. Announces New Share Repurchase Program

5 Aug 22

Eastern Bankshares, Inc. Reports Second Quarter 2022 Financial Results

28 Jul 22

8-K

Submission of Matters to a Vote of Security Holders

16 May 22

Transcripts

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EBC

Earnings call transcript

2022 Q4

27 Jan 23

EBC

Earnings call transcript

2022 Q3

28 Oct 22

EBC

Earnings call transcript

2022 Q2

29 Jul 22

EBC

Earnings call transcript

2022 Q1

29 Apr 22

EBC

Earnings call transcript

2021 Q4

28 Jan 22

EBC

Earnings call transcript

2021 Q3

29 Oct 21

EBC

Earnings call transcript

2021 Q2

31 Jul 21

EBC

Earnings call transcript

2020 Q4

29 Jan 21

Latest ownership filings

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Donald Michael Westermann

3 Mar 23

Robert Francis Rivers

Barbara Jane Heinemann

3 Mar 23

Kathleen Cloherty Henry

3 Mar 23

Nancy Huntington Stager

3 Mar 23

Financial summary

Financial statements Chart EBC financial data

Quarter (USD)	Dec 22	Sep 22	Jun 22	Mar 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	169.51 mm	169.51 mm	169.51 mm	169.51 mm	169.51 mm	169.51 mm
Cash burn (monthly)	(no burn)	88.52 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	n/a	256.10 mm	n/a	n/a	n/a	n/a
Cash remaining	n/a	-86.60 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	n/a	-1.0	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2022

EBC institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	211	214	-1.4%
Opened positions	25	17	+47.1%
Closed positions	28	12	+133.3%
Increased positions	69	67	+3.0%
Reduced positions	79	88	-10.2%

13F shares	Current	Prev Q	Change
Total value	1.66 tn	1.81 bn	+91479.0%
Total shares	97.64 mm	92.15 mm	+6.0%
Total puts	44.50 k	143.80 k	-69.1%
Total calls	171.30 k	254.90 k	-32.8%
Total put/call ratio	0.3	0.6	-54.0%

Largest owners	Shares	Value	Change
Vanguard	15.60 mm	$269.16 bn	+1.4%
BLK Blackrock	11.28 mm	$194.54 bn	+3.3%
FMR	6.32 mm	$109.07 bn	-0.4%
STT State Street	4.90 mm	$84.55 bn	NEW
Wellington Management	4.83 mm	$83.32 bn	+3.3%
Capital Research Global Investors	4.01 mm	$69.18 bn	+13.1%
T. Rowe Price Investment Management	3.84 mm	$66.51 bn	+40.7%
Geode Capital Management	3.03 mm	$52.50 bn	+2.8%
Brown Advisory	3.02 mm	$52.06 bn	-5.5%
Jennison Associates	2.75 mm	$47.51 bn	+1.9%

Largest transactions	Shares	Bought/sold	Change
STT State Street	4.90 mm	+4.90 mm	NEW
Millennium Management	308.85 k	-1.48 mm	-82.7%
FHI Federated Hermes	193.66 k	-1.39 mm	-87.8%
Norges Bank	1.26 mm	+1.26 mm	NEW
T. Rowe Price Investment Management	3.84 mm	+1.11 mm	+40.7%
Lord, Abbett & Co.	0.00	-518.92 k	EXIT
Capital Research Global Investors	4.01 mm	+464.97 k	+13.1%
Dimensional Fund Advisors	2.06 mm	+434.15 k	+26.7%
BLK Blackrock	11.28 mm	+357.12 k	+3.3%
Citadel Advisors	1.53 mm	+348.71 k	+29.6%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

EBC insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
1 Mar 23	James Burke Fitzgerald	Common Stock	Payment of exercise	Dispose F	No	No	15.63	4,185	65.41 k	142,277
1 Mar 23	James Burke Fitzgerald	Common Stock	Option exercise	Acquire M	No	No	0	14,231	0.00	146,462
1 Mar 23	James Burke Fitzgerald	RSU Common Stock	Grant	Acquire A	No	No	0	11,324	0.00	11,324
1 Mar 23	James Burke Fitzgerald	RSU Common Stock	Option exercise	Dispose M	No	No	0	14,231	0.00	56,926
1 Mar 23	Matthew Adam Osborne	Common Stock	Payment of exercise	Dispose F	No	No	15.63	2,977	46.53 k	11,510
1 Mar 23	Matthew Adam Osborne	Common Stock	Option exercise	Acquire M	No	No	0	9,487	0.00	14,487
1 Mar 23	Matthew Adam Osborne	RSU Common Stock	Grant	Acquire A	No	No	0	4,926	0.00	4,926
1 Mar 23	Matthew Adam Osborne	RSU Common Stock	Option exercise	Dispose M	No	No	0	9,487	0.00	37,951
1 Mar 23	Kathleen Cloherty Henry	Common Stock	Payment of exercise	Dispose F	No	No	15.63	2,912	45.51 k	6,575
1 Mar 23	Kathleen Cloherty Henry	Common Stock	Option exercise	Acquire M	No	No	0	9,487	0.00	9,487